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Hydrogenics Corp New (Nasdaq:HYGSD), American Railcar Industries Inc (Nasdaq:ARII), Home Bancorp Inc (Nasdaq:HBCP) and Kid Brands Inc (Nasdaq:KID) are among the biggest percentage Gainers in Monday's trading among companies with market capitalizations under $1 billion.

Also included among the results: CTS Corp (Nasdaq:CTS), Xenoport Inc (Nasdaq:XNPT), RXI Pharmaceuticals Corp (Nasdaq:RXII), One Libery Properties Corp (Nasdaq:OLP) and Cedar Fair L P (Nasdaq:FUN).

 

Small-cap stocks took a dive on the opening as the optimism that drove a sterling three-day rally abated amid a backlash from sobering economic data and a fresh batch of downbeat corporate forecasts. However, tech stocks were surprisingly firm today, which helped the overall market bounce off the morning lows. Some of today’s small-cap gainers are Qimonda (NYSE:QI), American Railcar Industries Inc. (Nasdaq:ARII) and Holly Corp. (NYSE:HOC).

Other Market Watch highlights today included:

• Weekly inventory data later this morning could spark a move in energy markets.  
• Crude oil prices jumped higher into the stock market open, rising about $1.7 a barrel on hope that the China rate cut would help bolster demand from that key customer.  
• The U.S. dollar was up against the euro this morning, rising about 0.8% and was flat against the yen.  
• Japan’s massive auto manufacturing firm, Toyota, saw its credit rating lowered for the first time in a decade.

Small Cap Gainers:

• Qimonda up 40% after closing Inotera share deal with Micron. See (NYSE:QI).  
• American Railcar Industries Inc. is up 10% as the railcar manufacturer continues to climb off 52-week lows forged last week. See (Nasdaq:ARII).  
• Holly Corp. to replace LandAmerica Financial Group in the S&P SmallCap 600. Shares of Holly are trading 6% higher. See (NYSE:HOC).  
• Forest Oil up 5% after completing $200M asset sales. See (NYSE:FST). 

Small Cap Losers:

• Andersons Inc. was down 27% as the agriculture company revised earnings downward. See (Nasdaq:ANDE).  
• Conn’s Inc. was off 13% as the specialty retailer reported earnings. See (Nasdaq:CONN).
• Thomas & Betts lowers 4Q earnings forecast; shares tumble 11%. See (NYSE:TNB).
• Kayne Anderson is down another 10% today after giving an update on leverage ratios earlier this week. See (NYSE:KYN).  

Small-cap stocks took a dive on the opening as the optimism that drove a sterling three-day rally abated amid a backlash from sobering economic data and a fresh batch of downbeat corporate forecasts. However, tech stocks were surprisingly firm today, which helped the overall market bounce off the morning lows. At 10:02 a.m. ET, the Russell 2000 (NYSE:IWM) was down 3.44, or 0.78%, at 439.74.

Market watchers were hip deep in data overload this morning as various government and private offices release reports early ahead of the Thanksgiving Day holiday in the United States. Amid this smorgasbord of information, the headliner appeared to be durable goods report, which showed a jolting decline of 6.2%, the largest drop in more than two years and well beyond the consensus forecast for a drop of 2.7%. The durables data base can be a little volatile, especially with huge orders for aircraft involved, but in this report orders for almost every category were down, and orders for non-defense capital goods excluding aircraft were off 4%. Shipments of finished goods were also down, which is a troubling sign for U.S. manufacturers and their likely hiring plans.

Another gloomy report on manufacturing came from today’s Chicago Purchasing Manager’s Survey, which was at 33.8, well below the 38 forecast and at the lowest point in 26 years. Meanwhile, new home sales were at an annualized rate of 433,000 units, down from the forecast of 440,000. The Michigan sentiment survey came in at 55.3, which was below the projection of 57.9 and at the lowest point since 1980.

Speaking of hiring (or the lack thereof), the weekly claims report came in at 529,000, which was in line with the forecast of 530,000. Even though the number of people filing for unemployment insurance fell 14,000 from last week, it should be noted . . .

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will probably open with a gain.

The bulls are poised for action on news that networking products maker and tech sector heavyweight Cisco Systems Inc. (Nasdaq: CSCO) received an analyst upgrade.

In economic news, the U.S. Labor Department reported that jobless claims for the week ended Feb. 16 fell 9,000 to 349,000 from the preceding week’s upwardly revised total of 358,000.

Economists were expecting a rise to 349,000 from an originally reported 348,000.

The Russell 2000 posted an impressive recovery rally off the morning slide Wednesday, notching a bullish reversal on daily chart patterns in the process. The index finished up 7.68, or 1.09% at 710.02. If the market can sustain upward momentum today, resistance comes in just overhead at 712, then at 721 and 731. Meanwhile, support is at 695, 688 and 680.

It will be interesting to see if the market can once again rise after morning economic data, as traders will have to navigate Leading Indicators and Philly Fed releases at 10:00 a.m. ET.  

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will likely open in positive territory.

There is little in the way of economic or corporate releases today, but investors are stepping up to buy shares after a sharp decline on Friday following news of a worse-than-expected December jobs report.

Helping fuel the bullish mood on pre-market trading today is speculation that the U.S. Federal Reserve will cut interest rates to prevent the economy from slipping into recession. The Fed is scheduled to kick-off a two-day meeting on Jan. 29. At its previous meeting on Dec. 11, it lowered the federal funds rate to 4.25% from 4.50%.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Amicus Therapeutics, Inc. (FOLD), up 14% on news of positive results from a clinical trial of a drug candidate.
• Maxwell Technologies, Inc. (MXWL), up 10% on news an automotive electronics maker selected its products.
• Origin Agritech Ltd. (SEED), up 9%.

Biggest percentage losers:

• American Railcar Industries, Inc. (ARII), down 8%.
• TiVo Inc. (TIVO) down 5%.
• ShoreTel Inc. (SHOR) down 4% on news it projects fiscal second-quarter revenue will be below the previously announced range.

Ascent Solar Technologies, Inc. (Nasdaq: ASTI), American Railcar Industries, Inc. (Nasdaq: ARII) and ARGON ST, Inc. (Nasdaq: STST) are among the most actively traded companies in Thursday pre-market trading among those with market capitalizations under $750 million:

The Russell 2000 (NYSE: IWM) futures are higher and the small-cap index will most likely open in positive territory, recovering from two days of losses.

Big name players are helping create a bullish mood this morning after news that analysts have raised their recommendations on computer hardware maker Hewlett-Packard Co. (Nasdaq: HPQ) and energy giant Chevron Corp. (NYSE: CVX).

Also contributing is Cisco Systems Inc. (Nasdaq: CSCO), after the internet communications company authorized additional stock repurchases valued at as much as $10 billion, raising the total amount to $62 billion.

In economic news, the U.S. Federal Reserve is scheduled to release data on industrial production in October minutes before the start of trading. Economists are expecting to see a small rise.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• Canadian Solar Inc. (CSIQ), up 13% on news that is has signed a new contract to deliver solar power station projects in Spain.
• American Railcar Industries Inc. (ARII), up 11% on news billionaire Carl Icahn bought more shares.
• China Techfaith Wireless Communication Technology Ltd. (CNTF), up 7%.

Biggest percentage losers:

• Acacia Research-Acacia Technologies (ACTG), down 30% on news of a negative ruling in a patent infringement trial with Microsoft Corp. (MSFT).
• Zygo Corp. (ZIGO) down 7%.
• Salix Pharmaceuticals Ltd. (SLXP) down 6%.

American Railcar Industries, Inc. (Nasdaq: ARII) shares are derailing after the St. Charles, Mo.-based company reported third-quarter revenue of $139.9 million, below analyst estimates of $173.9 million and down 7% from $150.5 million a year earlier.

“We have experienced less demand and increased competition for some of our hopper railcar products in the third quarter of 2007, resulting in lower earnings for the quarter when compared to the prior year. In addition, the third quarter of 2006 included insurance related gains,” CEO James Unger said in a statement. “Management is controlling costs at our hopper railcar facility during this time of lower production levels.”

The firm’s quarterly net earnings fell to $4.9 million, or $0.23 per share, missing Wall Street projections of $0.43 per share and down 55% from $11 million, or $0.52 per share, during the same period of 2006.

Billionaire and activist investor Carl Icahn, who holds a 28.7% stake in American Railcar, is the firm’s chairman.

The firm shipped 1,276 railcars during the third quarter, down 17% from 1,546 last year.

In afternoon trading, ARII shares are plummeting 24.49%, or $4.71, at $14.52. Over the last 52 weeks, shares have ranged from $12.95 to $43.46.

Hardinge Inc. (Nasdaq: HDNG), Kenexa Corp. (Nasdaq: KNXA) and National Atlantic Holdings Corp. (Nasdaq: NAHC) are among the biggest percentage losers in Thursday's trading among companies with market capitalizations under $750 million.

Here are today's biggest percentage losers:

The Russell 2000 (NYSE: IWM) is rising despite news of weak U.S. retail sales in October.

At 10:41 a.m. ET, the small-cap index had added 1.5 points, or 0.19%, to 777.46. The Dow Jones Industrial Average (INDU) was down 39.75 points, or 0.30%, to 13,260.27.

Small-cap stocks are moving up this morning while investors are digesting both bearish and bullish news and listening to U.S. Federal Reserve Ben Bernanke’s congressional testimony.

The bears like news that U.S. retailers posted weak sales in October. Many retailers blamed the warm weather for stalling sales of cold-weather items and the higher price of gasoline, which is pinching consumers’ wallets.

Wal-Mart Stores Inc. (NYSE: WMT), which saw a sales increase of just 0.4%, exemplifies the sector’s unimpressive performance.

Among small-cap retailers, shares of Hot Topic Inc. (Nasdaq: HOTT) cooled off due to news of a decline in October sales, while Christopher & Banks Corp. (NYSE: CBK) reported a 22% in October sales. Women’s fashion retailer New York and Company, Inc. (NYSE: NWY) also announced an increase in October sales.

The Russell 2000 futures were higher as the bulls reacted to news that automaker Ford Motor Co. (NYSE: F) reported that it expects to break even in 2007 following a narrower third-quarter loss. The company beat Wall Street’s expectations by posting a loss of $380 million, compared with a loss of $5.2 billion a year earlier.

The Russell 2000 (NYSE: IWM) futures are pointing up and the small-cap index will likely open in positive territory.

With no major economic news coming out today, investors will focus on mergers, acquisitions and corporate earnings.

Grabbing the headlines this morning is news that Citigroup Inc. (NYSE: C) suffered a 57% drop in its third-quarter profit. New York-based Citigroup, the largest U.S. bank, reported a net income of $2.38 billion, or $0.47 per share, compared with $5.51 billion, or $1.10 a share, during the same quarter a year earlier.

The financial giant blamed losses from subprime and leveraged loans, fixed-income trading and its U.S. consumer business for the decline in earnings.

Elsewhere, industrial and consumer products manufacturer Danaher Corp. (NYSE: DHR) announced that it will buy measurement equipment maker Tektronix Inc. (NYSE: TEK) for $2.85 billion. The deal is expected to close in the fourth quarter of 2007.

Here are the biggest percentage gainers and losers in pre-market trading among companies with a market cap between $100 million and $750 million:

Biggest percentage gainers:

• SORL Auto Parts, Inc. (SORL), up 12%.
• Fuel Tech Inc. (FTEK), up 10%.
• Beacon Roofing Supply, Inc. (BECN), up 7%.

Biggest percentage losers:

• City Telecom (H.K.) Ltd. (CTEL), down 6%.
• BankUnited Financial Corp. (BKUNA), down 5%.
• American Railcar Industries, Inc. (ARII), down 3%.